Attendees at the SMR & Advanced Reactor 2025 spent part of day one listening to Rick Springman, President of Global Clean Energy at Holtec International, as he provided a detailed update on the company’s Palisades Small Modular Reactor (SMR) project. Located in Covert, Michigan, the Palisades site is set to become a pivotal development in U.S. nuclear energy, with plans to deploy the nation’s first SMR by 2030.
The project follows Holtec’s acquisition of the site and assets from Entergy in June 2022. While originally slated for decommissioning, a collaborative effort between Holtec, the state of Michigan, and federal agencies redirected the facility toward a restart and future SMR deployment. “A lot of people told us we were crazy, but here we are, months away from the targeted restart and well into preparations for the SMR project,” Springman stated.
Holtec’s SMR-300 design is a next-generation pressurized water reactor (PWR) delivering 320 MW net per unit, configured as a twin-unit facility for a total of 640 MW net. The design emphasizes safety and simplicity, with passive safety systems and a Fukushima-proof cooling configuration that eliminates reliance on off-site power. “We’ve applied lessons from decades of nuclear operations to create a modular, factory-built reactor with the highest power density of any SMR on the market,” Springman said.
A cornerstone of Holtec’s strategy is vertical integration. With three U.S. manufacturing sites and an expansive global supply chain, Holtec positions itself to control design, manufacturing, installation, and maintenance. This approach is expected to drive down costs and ensure reliability. “We’re not outsourcing; our engineers are deeply involved in every step from paper design to real-world delivery,” Springman explained.
The Palisades SMR project has also benefited from robust regulatory engagement. Since 2019, Holtec has conducted hundreds of meetings and submitted over 50 white papers to the U.S. Nuclear Regulatory Commission (NRC), focusing on de-risking the technology and licensing pathway. Internationally, Holtec achieved the fastest-ever Step 1 completion of the UK's Generic Design Assessment and is actively progressing through Step 2 with the UK’s Office for Nuclear Regulation (ONR).
Community and state backing have been critical. The Michigan Infrastructure Office and Michigan Department of Environment, Great Lakes, and Energy publicly endorsed the project, highlighting its alignment with energy independence, grid stability, job creation, and environmental stewardship. Holtec’s planned investment could create approximately 280 permanent operational jobs, over 4,000 construction jobs, and stimulate thousands more in the regional supply chain.
The company anticipates filing its Construction Permit Application with the NRC in early 2026, following completion of its full environmental assessment. If approved, the Palisades SMR could be a model for global SMR deployment. As Springman concluded, “We have the site, the technology, the licensing path, and the financial commitment to get this done. Our goal is to unlock the global SMR market by successfully delivering the first unit in the U.S.”.
